Indus Valley Times

Clocking a revenue of 4.2 cr in FY 2021-22, Acviss is now targeting 7.5cr in FY 2022-23

By Susanta Kumar Dalai

Mumbai, Oct. 4: After a successful debut in the Indian market,  Acviss Technologies, an anti-counterfeiting tech startup plans to expand its venture and now eyes Europe, North America and China markets. They are currently utilizing their funds majorly for the Indian market while the rest 20 per cent will be used for the expansion.

Currently bootstrapped, Acviss is now seeking the right group of investors for their growth and is also focusing on product development for other form factors including anti-counterfeiting.

Talking about the expansion plan, Vikas Jain, Founder, Acviss Technologies, said, “With continued investment in research and development,  and a head-strong vision of benefiting the society with which Acviss was aligned, we have protected more than 1000 million products against counterfeiting and fraud across 11 countries from its inception. With this expansion, we are now trying to create more solutions in the anti-counterfeit industry that are indispensable globally.”

Ever since its inception, Acviss has grown 90% YOY and has managed to protect over 1.25 billion products with the help of its anti-counterfeiting technology. They have been successful in catering brands across sectors like Pharma, Agriculture, Plywood, Electrical Accessories, Consumables, Food, Certificates & Documents, and many more. Acviss aims at being agnostic to technology and method. Their model is to weed out counterfeiting end to end and across different sectors. They also plan to focus more on R&D and layout more robust ways to provide digital identity to products.

Fraud costs e-commerce businesses $14.6 million annually on average, or 7.5% of their annual revenue, globally. To curb counterfeiting in the top industries, Acviss recently introduced Truviss, an AI-based tool that helps brands sell their products online to identify fake products and listings. It is a machine learning and AI-based tool that not only figures out the authenticity of the products but also automatically triggers any action that is needed to bring down the fake listing.

Founded in March  2020, Acviss Technologies was born with the vision of uprooting the problem of counterfeiting and duplicity. It comes with the intention of solving the increasing issue of counterfeiting or product tampering due to which brands across different industries and markets suffer. Acviss also provides a range of other services designed to protect the brands and their products in the supply chain from start to finish. The services include- authenticity verification, track & trace, loyalty management, online anti-counterfeit, warranty management, and a multi-layered unique non replicable label.